By admin       2018-08-06

ICE Dec cotton finished the week very near unchanged, despite trading significantly in both directions Vs last week’s settlement, finishing at 88.12. The Dec – Mar spread finished the week near flat, inverted at 4 points. Market watchers looked for explanations behind this week’s trading action, particularly with respect to Friday’s retracement to almost 86.75 on Dec. In short, the trade war with China continues to weigh on most agricultural markets; additionally, the relatively long-standing gap between 89.50 and 90.00 on Dec was filled this week, which likely prompted some technical traders to take profits, or even sell the market short. Crude oil prices also retreated this week – an occurrence with which cotton futures often sympathizes.

Download App

# #

Member Login